Breaking News: Markets
New Morgan Stanley CEO is ‘super bullish’ on hitting financial targets
Morgan Stanley‘s new CEO Ted Pick on Thursday expressed confidence that his bank will hit financial targets of $10 trillion in client assets and a 20% return. Pick, a three-decade Morgan Stanley veteran who took over this month, said he has three priorities: sticking to the strategy laid out by predecessor James Gorman, maintaining the […]
Jamie Dimon warns ‘all these very powerful forces’ will impact U.S. economy in 2024 and 2025
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17yth, 2024. Adam Galici | CNBC JPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial […]
AI era is a ‘seismic moment’ in tech we’ve not seen in a decade, top Meta exec says
The new artificial intelligence era represents a huge moment for the tech industry that has not been seen in a decade, according to a top executive at Facebook parent company Meta Platforms. Reflecting on 2024, Nicola Mendelsohn, head of global business group at Meta, said it was important to talk about the potential for AI […]
UBS CEO says Swiss public ‘indoctrinated’ to worry about bank’s balance sheet
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank’s balance sheet are getting “indoctrinated” by academics and should “do their homework.” UBS completed its takeover of Credit Suisse in June 2023 after an […]
OpenAI CEO Sam Altman opens up about being fired by the board: ‘Super caught off guard’
Sam Altman, CEO of OpenAI, during an interview at Bloomberg House on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. Chris Ratliffe | Bloomberg | Getty Images DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out by the board was “wild,” […]
OpenAI’s Sam Altman says human-level AI is coming but will change world much less than we think
Sam Altman, chief executive officer of OpenAI, at the Hope Global Forums annual meeting in Atlanta, Georgia, US, on Monday, Dec. 11, 2023. Dustin Chambers | Bloomberg | Getty Images OpenAI CEO Sam Altman says concerns that artificial intelligence will one day become so powerful that it will dramatically reshape and disrupt the world are […]
Amazon, Microsoft, Meta and others accused by rivals of not respecting new EU competition rules
The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag shown in the background. Justin Tallis | AFP via Getty Images A raft of major technology and media companies have signed an open letter accusing tech giants of failing to bring their businesses into full compliance with […]
Amazon, Microsoft, Meta and others accused by rivals of not respecting new EU competition rules
The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag shown in the background. Justin Tallis | AFP via Getty Images A raft of major technology and media companies have signed an open letter accusing tech giants of failing to bring their businesses into full compliance with […]
Morgan Stanley revenue tops estimates, helped by strong investment banking business
The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Michael M. Santiago | Getty Images Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Here’s how the bank did compared with Wall Street expectations: Earnings per share: 85 cents, may not compare […]
Trump is a ‘transactional president’ but may not rock the boat on China, Standard Chartered CEO says
Bill Winters, chief executive officer of Standard Chartered, said the U.S. Federal Reserve looks set to pause its interest rate cycle in June get a better read on the latest inflation data. Bloomberg | Getty Images Former U.S. President Donald Trump would be a “transactional president” if he returns to power, but is unlikely to […]